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Since the launch of Polygons [MATIC] much-awaited zkEVM mainnet, several questions have been raised regarding its equivalence to EVM. Interestingly, in a 19 April blog, Polygon addressed those concerns and presented its response.

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According to Polygon, EVM-equivalence refers to a zkEVM that executes EVM bytecode directly. This suggests that zkEVM and EVM do not have an interface, such as a recompiler or LLVM.

The next concern was then, why not refer to Polygon zkEVM as a bytecode-compatible ZK rollup? In response to this, Polygon said,

Some ZK rollups may prefer this phrasing. But thats a stylistic decision, like capitalizing the word internet, not a substantive one.

According to Vitalik Buterin, EVM equivalence is about a few characteristics. They include support for all of EVMs opcodes and precompiled smart contracts as well as identical gas pricing as the EVM.

Luckily, Polygon zkEVM meets most of these standards. For instance, zkEVMs gas price is similar to EVMs, and it also supports all of EVMs opcodes.

However, zkEVM currently supports only five out of nine EVMs precompiled smart contracts. But Polygon mentioned that zkEVM will soon support the remaining four.

Though concerns regarding zkEVMs EVM-equivalence were addressed, the solutions output was not up to par. Dunes data revealed that though zkEVMs cumulative transactions continued to rise, its daily transactions declined. A similar trend was also registered in its number of users, as the metric plummeted quite significantly in April.

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It should be noted here that the crypto market turned bearish on 19 April, causing prices to fall further. At press time, MATIC was down by nearly 7% in the last 24 hours and was trading at $1.09 with a market capitalization of over $10 billion.

The price drop caused a surge in negative sentiment around MATIC, something that was pretty evident from the weighted sentiment metrics readings.

In fact, MATICs exchange inflow also spiked considerably, suggesting an arrival of selling pressure, which could strengthen a downtrend.

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Polygon provides clarity on zkEVMs relevance; how did MATIC react to it - AMBCrypto News